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Our interim results for the 6 months to June 30 2008 were announced on September 22. The financial highlights are as follows:

  • Turnover up 60% to £35.30m (2007: £22.03m)
  • Contracting turnover of £25.06m (2007: £17.04m)
  • Fund management fess of £5.50m (2007: £3.25m)
  • Property management fees of £4.75m (2007: £1.73m)
  • Profit from operations, before share based payments, of £3.43m (2007: £1.85m)
  • Pre-tax profit of £3.19m (2007: £1.41m)
  • Basic EPS of 4.74p (2007: 2.10p)
  • Basic EPS, before share based payments, of 5.15p (2007: 2.90p)

Our full-year results for the year to 31 December 2007 are as follows:

+136%

Turnover

 

Image: Turnover up 136%
+675%

Profit from operations

before share-based payments

Image: Profit from operations (before share-based payments) up 675%
+372%

Earnings Per Share

before share-based payments

Image: Earnings Per Share (before share-based payments) up 372%
+132%

Net Assets

 

Image: Net Assets up 132%

Speymill's activities cover real estate investment management, property management services and property construction.

  • Turnover up 136% to £52.7 million (2006: £22.3 million)
  • Profit from operations, before share based payments, of £3.09 million (2006: £0.39 million)
  • Earnings per share, before share based payments, of 5.01p (2006: 1.06p)
  • Outstanding debt extinguished in July 2007
  • Net assets £5.07 million (2006: £2.21 million)
  • Operational cash inflow £1.93 million (2006: outflow £0.01 million) and year-end cash resources of £1.50 miilion (2006: £0.65 million)
  • Maiden dividend of 0.5p per share
 

Of the Company's performance over 2007 Bob MacDonald, CEO, said:

"Each of our businesses has been further strengthened during the year in terms of both resources and structure and I firmly believe that we have a sound basis to continue to progress the Group's development."

 

Of the Company's financial results for 2007 Keith Lees, Financial Director, said:

"The Group's result for the year demonstrates the successful consolidation of the initial benefits seen in 2006 from the restructuring programme. Strong overall improvements in turnover and profitability have been achieved, enabling the Board to meet its commitment to propose a maiden dividend."

 

Of the Company's future prospects Jim Mellon, Chairman, said:

"The Group has continued to make considerable progress during the year which continues in 2008.

We now have proven effective and robust business models which provide an excellent basis for the Group to make further strong progress and to meet the challenges which the changing economic climate is presenting. We are therefore expecting further significant growth in turnover and profitability during this current year."